2985 Walgrove Way, San Jose, CA 95128
Fourplex
Sold October 2025
Listing Agent: Michael Shields (DRE #01327546) · Listing Office: SiliconValley MultiFamilyGroup · Contact: 408-356-1900 · Bought with: Jean Davila · Real Brokerage Technologies · MLS #ML82018905 · Source: CRMLS
About this fourplex
Turnkey fourplex in desirable West San Jose offers strong investment potential with a balanced unit mix: one 3BR/2BA, two 2BR/1.5BA, and one 1BR/1BA unit. The three larger units feature HVAC systems while the smaller unit has window A/C and a wall heater. Built in 1968, the 3,973 SF building sits on a 9,636 SF lot and includes 12 parking spaces (6 covered, 6 open) plus shared laundry generating approximately $250 monthly in additional income. The property generates $113,904 in annual gross income with a 3.48% cap rate and 16.68 gross rent multiplier. Located just 1.2 miles from Santana Row and 2 miles from Westfield Valley Fair, it offers excellent access to I-280, Highway 17, and San Tomas Expressway, plus proximity to top-rated schools within one mile. San Jose's tech-driven economy continues to support strong rental demand despite recent sector adjustments. With vacancy rates at just 3.8%, rent growth at 2.7%, and high home prices keeping buyers in the rental market, multifamily properties are well-positioned for long-term appreciation and income growth. The property is subject to San Jose's Apartment Rent Ordinance and Tenant Protection Ordinance.
Listing description from the October 2025 sale, as reported to CRMLS.
Sale history